Teaser Betting Rules
by Trevor Whenham - 12/31/2009

Teasers aren't the first tool that most serious bettors look at to make a profit. In the right situations, though, they can be both profitable and a lot of fun. One reason why bettors don't always embrace them is the confusion over teaser betting rules. The rules are at least a little bit different at each different sportsbook, and those seemingly small differences can make a big impact on the bottom line if you aren't aware of them. Here's a look at the important teaser betting rules that you need to be aware of.
Before we get to the nitty-gritty, we really should look at a definition of teasers. A teaser, like a parlay, is a bet on multiple games - two or more - and you must be correct in all of the games in order to cash your ticket and make a profit. They are most common in football and basketball - the sports most often bet against the spread. What makes teasers special, though, is that you get to adjust the point spread. A typical football teaser, for example, is six points. That means that you get to take six points off the spread of a favorite, and add six points to the spread of an underdog. For example, a -10 favorite would become -4 in a six-point teaser, while a +10 underdog would be +16. Now for those teaser betting rules:
Number of points - The first thing you need to be aware of is the number of points added to each game. The standard is typically six in football and 4.5 in basketball, but those can vary widely. As any sports bettor knows, even just a half point in a spread can make a big difference. You can find football teasers as low as five points and as high as 20, and basketball anywhere between four and 16. You need to know the number of points you have, and make sure that the adjusted spreads are favorable for you.
Payout - The payout in a teaser is fixed - it doesn't change based on the teams involved. Each sportsbook sets their own payouts, though, and they can vary widely. When you are making a teaser bet you need to shop around to find the best price for the number of teams you are betting. Some books generally have better teaser payouts than others, but they won't necessarily have better payouts for all of the possible teams involved. Over the long run a difference in payout can obviously make a big difference to the bottom line, so looking for the best payout is crucial.
Ties - This is the single biggest rule that you need to be aware of - how the book handles ties. There are four different ways that a book can handle it if one of your games ends exactly on the number. Some books treat a tie as a win. Others reduce the number of teams in the teaser by one - if you bet a four-team teaser and have a tie and three wins then it will pay off like a three-game teaser. Others will treat a teaser with a tie as no action - they'll return your bet - as long as you win your other bets. Finally, some books will treat a tie as a loss. Each of those is a very different situation, and can affect your return significantly. You need to be aware of what the book offers, and make sure that it fits your needs. There isn't necessarily one situation that is better than another, but you need to make sure that the potential return adequately reflects the risk you are taking.
Maximums - There are two potential issues you may need to consider here. First, the maximum amount you can bet on a teaser may to too low for you. Many books minimize their risk in teasers by making the maximum bet much lower than it is for a straight bet. Some books also put a maximum on the amount they will pay out for a teaser. That could mean that a large bet on a teaser with several teams involved which should pay out for more than the maximum will return less than the stated odds. Over the long term that's a real problem.
Different online books have different strengths when it comes to teasers. Here's a couple of sportsbooks that do well on many fronts, though:
5Dimes - 5Dimes offers a wide range of teaser options, with football teasers available from everything from five points to 20, and basketball from 4.5 to 16. They also offer two different options for ties - they can either be counted as winners, or the number of teams in the teaser can be reduced by one. The reduce option pays a little better than the win option. 5Dimes also offers prices that are competitive with most books in most situations, and better in many.
Bookmaker - Though Bookmaker offers fewer options than 5Dimes, and is less generous with ties (they treat them as no action if the rest of the bets are a win), their prices are attractive when you are involving more teams.

In a standard teaser, a bettor must place at least two selections, both of which must win, and the player is given a cushion of a certain number of points on each leg. Teasers Rules Teasers are Multiple bets in which the bettor is given a more favourable Handicap or Total on each selection, but each selection must win in order for the bet to win. The payout for Teasers depend upon the Sport, League, number of Selections, and the size of the point adjustment. To find the payouts for various Teasers use the. All SuperBook® House Rules apply to greyhound wagers when not in conflict with these rules. PARI-MUTUEL RULES. Payoffs over $50,000 may be delayed for 24 hours after the next bank day for verification. All pari-mutuel tickets are valid for 365 days from the event date. If a scratch occurs in a Pick-3, Pick-6 or Pick-9, the off.

Seasoned bettors are likely familiar with the teaser bet. But some beginning bettors might not know what these unique and exotic sports wagers entail. We are here to explain everything about a teaser bet; what it is, how it works, and the best way to use this option in your overall sports betting strategy.

Like a parlay, a teaser is a wager that involves multiple games -- two or more -- and you must be correct in all of the games in order to cash your ticket and win the bet. Teaser bets are most common in football and basketball -- the against the spread sports . What makes teasers unique, however, is that you get to adjust the odds in your favor. A typical NFL or college football teaser, for example, is six points. That means that you get to subtract six points the spread of a favorite and add six points to the spread of an underdog. For example, a -13 favorite would become -7 in a six-point teaser, while a +8 underdog would become +14.

Doc's Sports offers free NFL teaser picks and predictions every week of the pro football season. Check our homepage weekly during the season!

Teaser Sports Betting: Teaser Bet Explained

Online sportsbooks allow for up to 10-team teasers, or sometimes more, with odds greatly increasing, and some sportsbooks allow for up to 10-point to 13-point sweetheart teasers where a bettor drastically changes the line in exchange for drastically lower odds.

While football and basketball are the two main sports with which sportsbooks offer teaser bets, not all teasers are created equal. Just think about the numbers for a moment. The average NBA total is above 200 combined points for both teams. And the average NFL total is in the 40s. But the standard football teaser (at anywhere from -110 to -120 juice, depending on the sportsbook) allows you to move the spread six points for each matchup on the ticket, while a basketball teaser offers only 4.5 points at the same odds. There is obviously a lot more scoring in a basketball game, but you have to pay more for the extra points. That's why most sharp bettors stay away from basketball teasers and stick with six-point football teasers, which we will discuss in more detail later in this article.

How Does a Teaser Bet Work?

The payout in a teaser doesn't change because of the teams involved - the payout is at a fixed number depending on the number of teams and the number of points for each segment. Each sportsbook sets their own teaser odds, though, and they can vary widely from book to book. When you are placing a teaser bet, it's imperative to shop around to find the best payout odds for the number of teams you are betting. Some sportsbooks generally have better teaser payouts than others. Over the long run, a difference in payout can obviously make a big difference to the bottom line, so looking for the best deal is crucial. The odds you want for football teasers are -110 for a two-team, six-point teaser. However, many sportsbooks found that offering this juice opened them up to risk from sharp bettors, so many books raised their price to -115 or even -120 for this teaser bet variation.

Teaser Bet Tie or Push

This is the single biggest rule that you need to be aware of -- how the book handles ties or a push. There are four different ways that a book can handle it if one of your games ends exactly on the number. Some books treat a tie as a win. Others reduce the number of teams in the teaser by one -- if you bet a four-team teaser and have a tie and three wins, then it will pay off like a three-game teaser. Others will treat a teaser with a tie as no action -- they'll return your bet -- as long as you win your other bets. Finally, some books will treat a tie as a loss. Each of those is a very different situation and can affect your return significantly. You need to be aware of what the book offers and make sure that it fits your needs. There isn't necessarily one situation that is better than another, but you need to make sure that the potential return adequately reflects the risk you are taking.

Las Vegas Teaser Rules

NFL Betting Teaser with Example

Sharp bettors generally stay away from basketball teasers, as previously stated, and also normally avoid college football teasers in favor of NFL teasers. We already talked about the perils of hoops teasers, but for college football there are many more points scored in general than in professional football, removing the value out of the extra six points you get in a matchup. There are also more blowouts in college football. NFL betting lines are considered the sharpest in the sports betting industry, meaning the oddsmakers set the tightest lines on the games. So, therefore, getting the six points on a matchup creates great value for the bettor when many games end up close to the point spread. There are many NFL games where both sides of a teaser hit as well as both sides of the total. The following is an example:

Original Spread:

Kansas City Chiefs -10 vs. Las Vegas Raiders, Total 52

Final Score: Chiefs 30, Raiders 21

The Four Possible Six-Point Teaser Options:

Vegas Teaser Rules

Chiefs -4, Raiders +16, Over 46, Under 58

In this example, all six-point teasers for this game were a winner.

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Best Teaser Bets NFL: Basic Strategy Teasers

A popular strategy implored by most casual bettors is to tease favorites down so that they are closer to a pick'em and to tease a total down and take the over. A smarter strategy used by professional bettors is to make the most of the allotted points in the teaser. In what is known as a Basic Strategy Teaser or a Wong Teaser , bettors use the six points in the teaser to move the line past the two main key numbers in professional football, which are three and seven. An example of this would be moving a favorite of -8 down to a favorite of -2, thereby moving past the three and the seven, and moving an underdog of +2 points to +8. So many NFL games fall on these two key numbers, so moving the points past these key numbers gives the bettor a nice chance for profit.

Unfortunately for bettors, most sportsbooks raised the juice for a two-team, six-point Basic Strategy Teaser because the sharp bettors were consistently winning. The Expected Value was too great for the bettor at -110 vig. Therefore, the sportsbooks increased their juice on these Wong teasers to -115 or even -120 in some cases, removing most of the value and potential for long-term profit.

Are Teaser Bets Worth It?

It depends. Most smart bettors avoid NBA, college hoops and NCAA football teasers altogether. But I do know some sharp guys who use teasers in these sports on a regular basis with success. Personally, I play only NFL teasers, and, unless in very rare circumstances, I play only the Basic Strategy Teaser variety. I have found that I hit a high enough percentage of these bets that I can achieve profit even at -115 or -120 juice.